SiTime Corporation $SITM Shares Sold by Kornitzer Capital Management Inc. KS

Kornitzer Capital Management Inc. KS trimmed its position in shares of SiTime Corporation (NASDAQ:SITM) by 46.5% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 17,705 shares of the company’s stock after selling 15,405 shares during the period. Kornitzer Capital Management Inc. KS owned 0.07% of SiTime worth $5,335,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. Game Plan Financial Advisors LLC bought a new stake in SiTime during the 2nd quarter valued at $25,000. Salomon & Ludwin LLC bought a new stake in shares of SiTime during the third quarter valued at about $47,000. Global Retirement Partners LLC lifted its holdings in SiTime by 3,220.0% in the third quarter. Global Retirement Partners LLC now owns 166 shares of the company’s stock worth $50,000 after purchasing an additional 161 shares during the period. Advisors Asset Management Inc. lifted its holdings in SiTime by 33.6% in the first quarter. Advisors Asset Management Inc. now owns 350 shares of the company’s stock worth $54,000 after purchasing an additional 88 shares during the period. Finally, State of Wyoming bought a new position in SiTime in the 2nd quarter valued at about $58,000. 84.31% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at SiTime

In related news, CEO Rajesh Vashist sold 2,000 shares of the company’s stock in a transaction that occurred on Friday, January 2nd. The shares were sold at an average price of $369.20, for a total value of $738,400.00. Following the completion of the sale, the chief executive officer owned 431,609 shares in the company, valued at approximately $159,350,042.80. This represents a 0.46% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Samsheer Ahamad sold 4,000 shares of the firm’s stock in a transaction that occurred on Monday, December 1st. The stock was sold at an average price of $291.10, for a total transaction of $1,164,400.00. Following the completion of the transaction, the insider directly owned 51,711 shares of the company’s stock, valued at $15,053,072.10. This represents a 7.18% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders sold 21,500 shares of company stock valued at $6,791,710. 2.30% of the stock is currently owned by corporate insiders.

SiTime Stock Performance

Shares of NASDAQ:SITM opened at $358.08 on Wednesday. SiTime Corporation has a one year low of $105.40 and a one year high of $393.80. The stock has a fifty day moving average of $344.56 and a 200-day moving average of $287.46. The company has a market capitalization of $9.35 billion, a PE ratio of -120.97 and a beta of 2.49.

SiTime (NASDAQ:SITM) last issued its earnings results on Wednesday, November 5th. The company reported $0.87 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.71 by $0.16. SiTime had a negative return on equity of 5.69% and a negative net margin of 25.18%.The business had revenue of $83.57 million for the quarter, compared to analysts’ expectations of $78.08 million. During the same period in the previous year, the firm posted $0.40 EPS. The company’s quarterly revenue was up 44.8% on a year-over-year basis. As a group, research analysts forecast that SiTime Corporation will post -2.44 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research firms have commented on SITM. Loop Capital began coverage on shares of SiTime in a research report on Friday, November 21st. They set a “buy” rating and a $350.00 price target on the stock. Weiss Ratings reissued a “sell (d-)” rating on shares of SiTime in a report on Thursday, January 22nd. Raymond James Financial restated an “outperform” rating on shares of SiTime in a research report on Tuesday, December 2nd. Roth Mkm reiterated a “buy” rating and set a $350.00 price target on shares of SiTime in a research report on Thursday, November 6th. Finally, The Goldman Sachs Group assumed coverage on SiTime in a report on Monday, December 15th. They issued a “buy” rating and a $420.00 price objective for the company. Seven equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $367.50.

SiTime Profile

SiTime Corporation is a fabless semiconductor company specializing in silicon timing solutions that leverage micro-electromechanical systems (MEMS) technology as an alternative to traditional quartz crystals. Its portfolio of programmable oscillators, resonators, clock generators, jitter attenuators and network synchronizers addresses precision timekeeping requirements across a wide range of electronic systems. By integrating MEMS resonators with advanced mixed-signal control circuitry, SiTime’s products offer enhanced reliability, resistance to shock and vibration, and a smaller footprint compared with conventional quartz devices.

The company’s timing devices serve diverse end markets, including telecommunications infrastructure, data center and enterprise networking, consumer electronics, automotive systems, industrial automation, and aerospace and defense applications.